 News from Realogic
Realogic has made some exciting changes and developments as we continue to grow and expand our software and service solutions to the commercial real estate industry. These new developments are the focus of our newsletter and include:
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Realogic launched 2 new applications for the commercial real estate industry. Disruptive Solutions that are quicker, easier, cheaper and BETTER.
LeaseAbstract.com™ - Web based abstracting & administration
Realogic Budget™ - Web based budgeting & reforecasting
Please visit our new software website, www.realogic.net, for more information.
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Please check out our newly redesigned and improved website which has a cleaner, crisper look along with easier access and navigation. Our site will continue to provide useful and helpful resources and information for real estate professionals. In addition, you will find information about our services and solutions in addition to detailed success stories. realogicinc.com
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Additional Training
We have introduced 2 new training classes for commercial real estate professionals. Our full suite of training classes now includes:
In addition, Realogic will begin a series of free lunch and learn sessions on August 27th. For additional information about training opportunities and the lunch and learn sessions, visit realogicinc.com/training.html
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RE|Solutions provides services to financial institutions, owners, and lenders faced with underperforming or non performing real estate assets. RE|Solutions is a partnership between Realogic, a commercial real estate consulting and technology service provider, and Siegel-Gallagher, a full service commercial real estate management, construction and brokerage firm.
For more information, please visit www.re-solutionsinc.com
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Success Stories
FASB 13 Straight Line Rent Calculations
Situation:
A lease administration client requested that Realogic verify that lease data was entered into the client accounting system properly to facilitate FASB 13 rent adjustments.
Solution:
Realogic met with the client to discuss their interpretation of FASB 13 calculations. Based upon these discussions, Realogic:
- Created an Excel spreadsheet used to calculate the FASB 13 rent for every lease as new lease documentation was provided.
- Cross-checked the summary data (# of months, total rent & average rent) against such summary data contained within the clients CTI accounting system.
- Upon verification, the lease data was entered properly into CTI to facilitate FASB 13 rent calculations. If the data did not agree, CTI data entry was reviewed to determine the source of possible entry errors.
Due Diligence - Lease Abstracting and Argus Modeling
Situation:
A large REIT needed a partner to assist with lease abstracting and financial analysis during a large acquisition of a 15 + property shopping center portfolio under tight deadline.
Solution:
Realogic completed the abstracting and analysis within the 10 day deadline, which included the following services:
- Downloaded leases and other source documents from document management system.
- Abstracted lease documents for 9 Shopping Centers (170 + Tenants) into clients Excel proprietary lease abstracting template.
- Prepared outstanding issues list (missing documents, etc.) and transmitted to client. Updated abstracts upon resolution.
- Created Argus files for 11 Shopping Centers from Rent Rolls, Escalation Worksheets and other source documents. Over 775 Tenant Records were created in Argus, including options and vacant space.
- Audited the Argus files against abstracts and source documents. Identified Argus modeling issues and potential problems with source documents.
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Newsletter: July 2009
